CV Sciences, Inc. Reports Third Quarter 2025 Financial Results
CV Sciences (OTCQB:CVSI) reported third quarter 2025 results for the period ended September 30, 2025. Revenue was $3.3M, down from $3.9M in Q3 2024 and down from $3.6M in Q2 2025. Gross margin improved to 48.5% versus 46.0% a year earlier. Adjusted EBITDA was a loss of $118k versus a $75k loss in Q3 2024. Cash at quarter end was $0.4M. Units sold declined by 16% year-over-year. Management highlighted new product expansion, including the launch of Ignite, and cited restrictive federal hemp language with a one-year delayed effect.
The company will host a conference call and webcast today at 4:30pm EDT/1:30pm PDT.
CV Sciences (OTCQB:CVSI) ha riportato i risultati del terzo trimestre 2025 per il periodo terminato il 30 settembre 2025. Le entrate sono state di 3,3 milioni di dollari, in calo rispetto a 3,9 milioni di dollari nel Q3 2024 e rispetto a 3,6 milioni di dollari nel Q2 2025. Il margine lordo è migliorato al 48,5% rispetto al 46,0% dell'anno precedente. L'EBITDA rettificato è stato una perdita di 118 mila dollari contro una perdita di 75 mila dollari nel Q3 2024. La liquidità a fine trimestre era di 0,4 milioni di dollari. Le unità vendute sono diminuite del 16% su base annua. La direzione ha evidenziato l'espansione del portafoglio prodotti, inclusa la vendita di Ignite, e ha citato un linguaggio federale restrittivo relativo alla canapa con un effetto ritardato di un anno.
L'azienda terrà una conference call e una webcast oggi alle 16:30 EDT / 13:30 PDT.
CV Sciences (OTCQB:CVSI) reportó los resultados del tercer trimestre de 2025 para el periodo terminado el 30 de septiembre de 2025. Los ingresos fueron de 3,3 millones de dólares, por debajo de 3,9 millones en el Q3 2024 y por debajo de 3,6 millones en el Q2 2025. El margen bruto se llevó a 48,5% frente al 46,0% del año anterior. El EBITDA ajustado fue una pérdida de 118 mil dólares frente a una pérdida de 75 mil en el Q3 2024. La liquidez al cierre del trimestre fue de 0,4 millones de dólares. Las unidades vendidas cayeron un 16% interanual. La dirección destacó la expansión de productos, incluida la lanzamiento de Ignite, y citó un lenguaje federal restrictivo relativo al cáñamo con un efecto retardado de un año.
La compañía organizará una llamada de conferencia y webcast hoy a las 4:30 p.m. EDT / 1:30 p.m. PDT.
CV Sciences (OTCQB:CVSI)는 2025년 9월 30일 종료된 기간에 대한 2025년 3분기 실적을 발표했습니다. 매출은 330만 달러였으며 2024년 3분기 390만 달러, 2025년 2분기 360만 달러에서 감소했습니다. 매출총이익률은 전년 동기 46.0%에서 48.5%로 개선되었습니다. 조정 EBITDA는 11.8만 달러의 손실로, 2024년 3분기 7.5만 달러 손실에서 증가했습니다. 분기말 현금은 40만 달러였습니다. 판매 단위는 연간 기준 16% 감소했습니다. 경영진은 Ignite의 출시를 포함한 신제품 확장을 강조했고, 연방의 헴프 관련 제한적 언어로 1년의 지연 효과를 언급했습니다.
회사는 오늘 동부표준시 16:30/태평양표준시 13:30에 컨퍼런스 콜 및 웹캐스트를 개최합니다.
CV Sciences (OTCQB:CVSI) a publié les résultats du troisième trimestre 2025 pour la période se terminant le 30 septembre 2025. Le chiffre d'affaires s'élevait à 3,3 M$, en baisse par rapport à 3,9 M$ au T3 2024 et à 3,6 M$ au T2 2025. La marge brute s'est améliorée à 48,5% contre 46,0% l'année précédente. L'EBITDA ajusté était une perte de 118 k$ contre une perte de 75 k$ au T3 2024. La trésorerie en fin de trimestre était de 0,4 M$. Les unités vendues ont diminué de 16% sur une base annuelle. La direction a mis en avant l'expansion des produits, y compris le lancement de Ignite, et a cité un langage fédéral restrictif relatif au chanvre avec un effet retardé d'un an.
La société organisera une conférence téléphonique et un webcast aujourd'hui à 16h30 EDT/13h30 PDT.
CV Sciences (OTCQB:CVSI) meldete die Ergebnisse des dritten Quartals 2025 für den Zeitraum bis zum 30. September 2025. Der Umsatz betrug 3,3 Mio. USD, ein Rückgang gegenüber 3,9 Mio. USD im Q3 2024 und 3,6 Mio. USD im Q2 2025. Die Bruttomarge verbesserte sich auf 48,5% gegenüber 46,0% im Vorjahr. Das bereinigte EBITDA war eine Verlust von 118 Tsd. USD gegenüber einem Verlust von 75 Tsd. USD im Q3 2024. Barmittel am Quartalsende betrugen 0,4 Mio. USD. Die verkauften Einheiten sanken um 16% gegenüber dem Vorjahr. Das Management hob die Erweiterung des Produktportfolios hervor, einschließlich der Einführung von Ignite, und verwies auf restriktive bundesstaatliche Formulierungen zum Hemp mit einer einjährigen Verzögerung.
Das Unternehmen wird heute um 16:30 Uhr EDT/13:30 Uhr PDT eine Conference Call und einen Webcast abhalten.
CV Sciences (OTCQB:CVSI) أعلنت عن نتائج الربع الثالث 2025 للفترة المنتهية في 30 سبتمبر 2025. بلغت الإيرادات 3.3 مليون دولار، بانخفاض عن 3.9 مليون دولار في الربع الثالث 2024 و3.6 مليون دولار في الربع الثاني 2025. تحسن الهامش الإجمالي إلى 48.5% مقارنة بـ 46.0% في العام السابق. كان EBITDA المعدل خسارة قدرها 118 ألف دولار مقابل خسارة قدرها 75 ألف دولار في الربع الثالث 2024. كانت السيولة في نهاية الربع 0.4 مليون دولار. انخفضت الوحدات المباعة بنسبة 16% على أساس سنوي. أشارت الإدارة إلى توسيع المنتجات بما في ذلك إطلاق Ignite، وذكرت وجود صياغة اتحادية مقيدة تتعلق بالكانابيس مع تأثير متأخر لمدة عام.
ستعقد الشركة مكالمة جماعية وبثًا مباشرًا اليوم في الساعة 4:30 مساءً بتوقيت شرق الولايات المتحدة/1:30 مساءً بتوقيت المحيط الهادئ.
- Gross margin improved by 250 bps to 48.5% YoY
- 39% of Q3 2025 net revenue from products launched since Jan 1, 2023
- Launched Ignite men's performance product to diversify portfolio
- Revenue declined by 16% YoY to $3.3M
- Total units sold fell by 16% YoY
- Adjusted EBITDA loss widened to $118k from $75k
- Cash balance fell to $0.4M at quarter end (down from $0.5M)
SAN DIEGO, CA / ACCESS Newswire / November 13, 2025 / CV Sciences, Inc. (OTCQB:CVSI) (the "Company", "CV Sciences", "our", "us" or "we"), a preeminent consumer wellness company specializing in hemp extracts and other proven science-backed, natural ingredients and products, today announced its financial results for the quarter ended September 30, 2025.
Third Quarter 2025 and Recent Financial and Operating Highlights
Generated revenue of
$3.3 million for the third quarter 2025 compared to$3.9 million for the third quarter 2024 and compared to$3.6 million for the second quarter 2025;Recognized gross margin of
48.5% for the third quarter 2025 compared to46.0% for the third quarter 2024 and compared to50.9% for the second quarter 2025;Cash balance of
$0.4 million at quarter end compared to$0.5 million at the end of 2024;Recognized an adjusted EBITDA loss of
$118,000 for the third quarter 2025 compared to$75,000 for the third quarter 2024 and compared to positive adjusted EBITDA of$59,000 for the second quarter 2025; andExpanded +PlusCBD™ product offering with the launch of Ignite, a men's performance formula for vitality, recovery, libido and focus.
"We are pleased with our third quarter 2025 results, highlighted by healthy gross margins of
Mr. Dowling stated further, "The funding legislation to reopen the federal government enacted yesterday that included restrictive language for the hemp industry is disappointing. The restrictive hemp language will not go into effect for a one-year period from today. CV Sciences will have an opportunity, along with other industry participants, to work on a bipartisan basis with members of Congress to shape a balanced and responsible regulatory framework that preserves access to hemp-derived, health and wellness products relied on by millions of consumers across the United States."
Operating Results - Third Quarter 2025 Compared to Third Quarter 2024
Sales for third quarter 2025 were
We generated an operating loss of
Conference Call and Webcast
The Company will host a conference call and webcast to discuss these results today at 4:30 pm EDT/1:30 pm PDT. The webcast of the conference call will be available on the Investor Relations section of the Company's website at https://ir.cvsciences.com/news-events or directly at https://viavid.webcasts.com/starthere.jsp?ei=1739504&tp_key=71dd648c0e . Investors interested in participating in the live call can also dial (877) 407-0784 from the U.S. or international callers can dial (201) 689-8560. A telephone replay will be available approximately three hours after the call concludes, and will be available through Thursday, November 20, 2025, by dialing (844) 512-2921 from the U.S. or (412) 317-6671 from international locations, and entering confirmation code 13756671.
About CV Sciences, Inc.
CV Sciences, Inc. (OTCQB:CVSI) is a consumer wellness company specializing in nutraceuticals and plant-based foods. The Company's hemp extracts and other proven, science-backed, natural ingredients and products are sold through a range of sales channels from B2B to B2C. The Company's +PlusCBD™ branded products are sold at select retail locations throughout the U.S. and are the top-selling hemp-extract brand in the natural products market, according to SPINS, the leading provider of syndicated data and insights for the natural, organic and specialty products industry. With a commitment to science, +PlusCBD™ product benefits in healthy people are supported by human clinical research data, in addition to three published clinical case studies available on PubMed.gov. +PlusCBD™ was the first hemp extract supplement brand to invest in the scientific evidence necessary to receive self-affirmed Generally Recognized as Safe (GRAS) status. The Company also produces cannabinoid-free supplements under its +PlusHLTH™ brand, with targeted formulations to optimize health, improve performance, and increase vitality. Our Cultured Foods™ brand provides a variety of
Forward Looking Statements
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risk and uncertainties. CV Sciences does not undertake any obligation to publicly update any forward-looking statements, except as required by applicable law. As a result, investors should not place undue reliance on such forward-looking statements.
Contact Information
CV SCIENCES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(in thousands, except per share data)
Three Months Ended | Nine Months Ended | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Product sales, net | $ | 3,256 | $ | 3,865 | $ | 10,482 | $ | 11,821 | ||||||||
Cost of goods sold | 1,677 | 2,087 | 5,401 | 6,330 | ||||||||||||
Gross profit | 1,579 | 1,778 | 5,081 | 5,491 | ||||||||||||
Operating expenses: | ||||||||||||||||
Research and development | 24 | 29 | 104 | 93 | ||||||||||||
Selling, general and administrative | 1,830 | 2,090 | 5,894 | 6,942 | ||||||||||||
Benefit from reversal of accrued payroll taxes | - | - | (522 | ) | - | |||||||||||
Total operating expenses | 1,854 | 2,119 | 5,476 | 7,035 | ||||||||||||
Operating loss | (275 | ) | (341 | ) | (395 | ) | (1,544 | ) | ||||||||
Gain on extinguishment of debt | - | - | (38 | ) | - | |||||||||||
Interest expense, net | 107 | 115 | 388 | 118 | ||||||||||||
Loss before income taxes | (382 | ) | (456 | ) | (745 | ) | (1,662 | ) | ||||||||
Income tax expense | - | - | 7 | 6 | ||||||||||||
Net loss | $ | (382 | ) | $ | (456 | ) | $ | (752 | ) | $ | (1,668 | ) | ||||
Weighted average common shares outstanding, basic and diluted | 184,264 | 182,261 | 184,264 | 172,671 | ||||||||||||
Net loss per common share, basic and diluted | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.01 | ) | ||||
CV SCIENCES, INC.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in thousands, except per share data)
September 30, | December 31, 2024 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash | $ | 381 | $ | 454 | ||||
Accounts receivable, net | 405 | 522 | ||||||
Inventory | 4,080 | 4,897 | ||||||
Prepaid expenses and other | 231 | 370 | ||||||
Total current assets | 5,097 | 6,243 | ||||||
Property and equipment, net | 349 | 399 | ||||||
Right of use assets | 410 | 94 | ||||||
Intangibles, net | 82 | 93 | ||||||
Goodwill | 1,010 | 971 | ||||||
Other assets | 47 | 127 | ||||||
Total assets | $ | 6,995 | $ | 7,927 | ||||
Liabilities and stockholders' equity | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 1,214 | $ | 1,925 | ||||
Accrued expenses | 2,874 | 3,424 | ||||||
Current portion of operating lease liability | 247 | 83 | ||||||
Current portion of long-term debt, net of debt issuance costs | 451 | 677 | ||||||
Total current liabilities | 4,786 | 6,109 | ||||||
Operating lease liability | 162 | 19 | ||||||
Debt, net of debt issuance costs | 504 | - | ||||||
Deferred tax liability | 4 | 4 | ||||||
Total liabilities | 5,456 | 6,132 | ||||||
Commitments and contingencies | ||||||||
Stockholders' equity | ||||||||
Preferred stock, par value | - | - | ||||||
Common stock, par value | 18 | 18 | ||||||
Additional paid-in capital | 89,207 | 88,773 | ||||||
Accumulated deficit | (87,733 | ) | (86,981 | ) | ||||
Accumulated other comprehensive income (loss) | 47 | (15 | ) | |||||
Total stockholders' equity | 1,539 | 1,795 | ||||||
Total liabilities and stockholders' equity | $ | 6,995 | $ | 7,927 | ||||
CV SCIENCES, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(in thousands)
Nine Months Ended | ||||||||
2025 | 2024 | |||||||
OPERATING ACTIVITIES | ||||||||
Net loss | $ | (752 | ) | $ | (1,668 | ) | ||
Adjustments to reconcile net loss to net cash flows used in operating activities: | ||||||||
Depreciation and amortization | 171 | 220 | ||||||
Stock-based compensation | 374 | 154 | ||||||
Amortization of debt discount | 386 | 117 | ||||||
Amortization of right of use assets | 175 | 86 | ||||||
Gain on debt extinguishment | (38 | ) | - | |||||
Benefit from reversal of accrued payroll tax | (522 | ) | - | |||||
Gain in fair value of contingent consideration liabilities | - | (188 | ) | |||||
Other | 128 | 236 | ||||||
Change in operating assets and liabilities: | ||||||||
Accounts receivable, net | 130 | 19 | ||||||
Inventory | 830 | 689 | ||||||
Prepaid expenses and other | 141 | 208 | ||||||
Accounts payable and accrued expenses | (1,076 | ) | (570 | ) | ||||
Net cash flows used in operating activities | (53 | ) | (697 | ) | ||||
INVESTING ACTIVITIES | ||||||||
Purchases of property and equipment | (100 | ) | - | |||||
Acquisition of business, net of cash acquired | - | (6 | ) | |||||
Net cash flows used in investing activities | (100 | ) | (6 | ) | ||||
FINANCING ACTIVITIES | ||||||||
Proceeds from note payable | 1,200 | 900 | ||||||
Debt issuance costs related to note payable | (82 | ) | (5 | ) | ||||
Repayment of note payable | (900 | ) | (325 | ) | ||||
Repayment of unsecured debt | (139 | ) | (203 | ) | ||||
Net cash flows provided by financing activities | 79 | 367 | ||||||
Effect of exchange rate changes on cash | 1 | (2 | ) | |||||
Net decrease in cash | (73 | ) | (338 | ) | ||||
Cash, beginning of period | 454 | 1,317 | ||||||
Cash, end of period | $ | 381 | $ | 979 | ||||
Supplemental cash flow disclosures: | ||||||||
Interest paid | $ | 4 | $ | 6 | ||||
Income tax paid | $ | 7 | $ | 6 | ||||
Supplemental disclosure of non-cash transactions: | ||||||||
Services paid with common stock | $ | 60 | $ | 62 | ||||
Right of use asset financed by lease liabilities | $ | 486 | $ | - | ||||
Original issuance discount for note payable | $ | (400 | ) | $ | (284 | ) | ||
Debt modification cost | $ | (150 | ) | $ | - | |||
Working capital adjustment due from seller | $ | - | $ | 34 | ||||
Fair value of net assets acquired, excluding cash | $ | - | $ | 341 | ||||
Goodwill on acquisition | $ | - | $ | 365 | ||||
Common stock consideration | $ | - | $ | (700 | ) | |||
Cash paid for acquisition | $ | - | $ | 6 | ||||
CV SCIENCES, INC.
NON-GAAP FINANCIAL MEASURES (UNAUDITED)
We prepare our consolidated financial statements in accordance with generally accepted accounting principles for the United States (GAAP). The non-GAAP financial measures, such as net income (loss) per share and Adjusted EBITDA included in this press release are different from those otherwise presented under GAAP. We use non-GAAP measures internally to evaluate our performance and make financial and operational decisions that are presented in a manner that adjusts from their equivalent GAAP measures or that supplement the information provided by our GAAP measures. The non-GAAP financial measures exclude non-cash compensation expense for stock options. When evaluating the performance of our business and developing short and long-term plans, we do not consider share-based compensation charges. Although share-based compensation is necessary to attract and retain quality employees, our consideration of share-based compensation places its primary emphasis on overall shareholder dilution rather than the accounting charges associated with such grants. Because of the varying availability of valuation methodologies and subjective assumptions, we believe that the exclusion of share-based compensation allows for more accurate comparison of our financial results to previous periods. In addition, we believe it useful to investors to understand the specific impact of the application of the fair value method of accounting for share-based compensation on our operating results.
Adjusted EBITDA is defined by us as EBITDA (net loss plus depreciation, amortization, interest, and income tax expense, further adjusted to exclude certain non-cash expenses and other adjustments as set forth below. We use Adjusted EBITDA because we believe it more clearly highlights trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures, since Adjusted EBITDA eliminates from our results specific financial items that have less bearing on our core operating performance.
We use Adjusted EBITDA in communicating certain aspects of our results and performance, including in this press release, and believe that Adjusted EBITDA, when viewed in conjunction with our GAAP results and the accompanying reconciliation, can provide investors with greater transparency and a greater understanding of factors affecting our financial condition and results of operations than GAAP measures alone. In addition, we believe the presentation of Adjusted EBITDA is useful to investors in making period-to-period comparison of results because the adjustments to GAAP are not reflective of our core business performance.
A reconciliation from our GAAP net loss to non-GAAP net income (loss) for the three and nine months ended September 30, 2025 and 2024 is detailed below (in thousands, except per share data):
Three Months Ended | Nine Months Ended | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Net loss - GAAP | $ | (382 | ) | $ | (456 | ) | $ | (752 | ) | $ | (1,668 | ) | ||||
Stock-based compensation (1) | 124 | 87 | 374 | 154 | ||||||||||||
Benefit from reversal of accrued payroll tax (2) | - | - | (522 | ) | - | |||||||||||
Gain on debt extinguishment (3) | - | - | (38 | ) | - | |||||||||||
Note discount (4) | 107 | 115 | 388 | 118 | ||||||||||||
Net income (loss) - non-GAAP | $ | (151 | ) | $ | (254 | ) | $ | (550 | ) | $ | (1,396 | ) | ||||
Diluted EPS - GAAP | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.01 | ) | ||||
Stock-based compensation (1) | - | - | - | - | ||||||||||||
Benefit from reversal of accrued payroll tax (2) | - | - | - | - | ||||||||||||
Gain on debt extinguishment (3) | - | - | - | - | ||||||||||||
Note discount (4) | - | - | - | - | ||||||||||||
Diluted EPS - non-GAAP | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.01 | ) | ||||
Shares used to calculate diluted EPS - GAAP and non-GAAP | 184,264 | 182,261 | 184,264 | 172,671 | ||||||||||||
Represents stock-based compensation expense related to stock options awarded to employees and non-executive directors based on the grant date fair value using the Black-Scholes valuation model.
Represents benefit from reversal of accrued payroll tax associated with RSU release to founder in 2019.
Represents gain on extinguishment of debt related to our Streeterville note payable.
Represents amortization of OID/debt issuance costs for notes payable.
A reconciliation from our net loss to Adjusted EBITDA, a non-GAAP measure, for the three and nine months ended September 30, 2025 and 2024 is detailed below (in thousands):
Three Months Ended | Nine Months Ended | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Net loss | $ | (382 | ) | $ | (456 | ) | $ | (752 | ) | $ | (1,668 | ) | ||||
Depreciation expense | 27 | 93 | 155 | 223 | ||||||||||||
Amortization expense | 6 | 6 | 18 | 15 | ||||||||||||
Interest expense, net | 107 | 115 | 388 | 118 | ||||||||||||
Income tax expense | - | - | 7 | 6 | ||||||||||||
EBITDA | (242 | ) | (242 | ) | (184 | ) | (1,306 | ) | ||||||||
Stock-based compensation (1) | 124 | 87 | 374 | 154 | ||||||||||||
Professional fees associated with legal dispute (2) | - | 80 | - | 773 | ||||||||||||
Benefit from reversal of accrued payroll tax (3) | - | - | (522 | ) | - | |||||||||||
Gain on debt extinguishment (4) | - | - | (38 | ) | - | |||||||||||
Adjusted EBITDA | $ | (118 | ) | $ | (75 | ) | $ | (370 | ) | $ | (379 | ) | ||||
Represents stock-based compensation expense related to stock options awarded to employees and non-executive directors based on the grant date fair value using the Black-Scholes valuation model.
Represents legal and other professional expenses incurred during 2024 associated with the legal dispute with founder.
Represents benefit from reversal of accrued payroll tax associated with RSU release to founder in 2019.
Represents gain on extinguishment of debt related to our Streeterville note payable.
SOURCE: CV Sciences, Inc.
View the original press release on ACCESS Newswire
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